Chinese yard giant forced to restructure

Following massive losses, authorities are pushing for a restructuring of China's largest privately owned shipyard, Rongsheng Heavy Industries Group, according to Seatrade Global.

Sydkoreanske DSME (foto) er modsat Rongsheng i god stand og satser stort på offshore. | Photo: Thorbjørn Hansen

Rongsheng Heavy Industries Group no longer looks like the master of its own destiny. Over the course of the weekend, Chinese authorities announced efforts to locate a third party to launch a potential restructuring of Rongsheng, according to Seatrade Global.

In August China's biggest privately owned shipyard suspended the trade of its shares, and signaled that a restructuring of the company was inevitable.

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